Amgen Inc. (NASDAQ:AMGN) Position Cut by Everence Capital Management Inc.

Everence Capital Management Inc. trimmed its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,040 shares of the medical research company’s stock after selling 704 shares during the quarter. Everence Capital Management Inc.’s holdings in Amgen were worth $4,332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of AMGN. Southland Equity Partners LLC grew its stake in shares of Amgen by 2.3% during the fourth quarter. Southland Equity Partners LLC now owns 1,538 shares of the medical research company’s stock valued at $443,000 after buying an additional 34 shares during the last quarter. Acropolis Investment Management LLC lifted its holdings in shares of Amgen by 3.5% during the fourth quarter. Acropolis Investment Management LLC now owns 999 shares of the medical research company’s stock valued at $288,000 after purchasing an additional 34 shares during the last quarter. Opal Wealth Advisors LLC lifted its holdings in shares of Amgen by 1.9% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,868 shares of the medical research company’s stock valued at $538,000 after purchasing an additional 34 shares during the last quarter. Marino Stram & Associates LLC lifted its holdings in shares of Amgen by 0.7% during the fourth quarter. Marino Stram & Associates LLC now owns 4,626 shares of the medical research company’s stock valued at $1,332,000 after purchasing an additional 34 shares during the last quarter. Finally, FORVIS Wealth Advisors LLC increased its position in shares of Amgen by 1.4% during the fourth quarter. FORVIS Wealth Advisors LLC now owns 2,578 shares of the medical research company’s stock valued at $743,000 after acquiring an additional 35 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Amgen stock traded up $0.13 during trading hours on Tuesday, reaching $265.64. 2,011,146 shares of the stock were exchanged, compared to its average volume of 2,871,636. The stock has a market cap of $142.36 billion, a P/E ratio of 21.26, a P/E/G ratio of 2.53 and a beta of 0.58. The company has a debt-to-equity ratio of 10.14, a quick ratio of 1.13 and a current ratio of 1.65. Amgen Inc. has a 52-week low of $211.71 and a 52-week high of $329.72. The firm’s 50 day moving average is $279.63 and its 200 day moving average is $281.52.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, February 6th. The medical research company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.05. Amgen had a net margin of 23.83% and a return on equity of 154.27%. The firm had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.13 billion. During the same period in the prior year, the company earned $4.09 EPS. The firm’s revenue was up 19.8% on a year-over-year basis. Analysts predict that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 17th will be issued a dividend of $2.25 per share. The ex-dividend date is Thursday, May 16th. This represents a $9.00 annualized dividend and a dividend yield of 3.39%. Amgen’s payout ratio is currently 72.06%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Morgan Stanley cut their target price on shares of Amgen from $281.00 to $278.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. UBS Group lowered their target price on shares of Amgen from $315.00 to $314.00 and set a “neutral” rating on the stock in a research note on Monday, January 29th. Leerink Partnrs cut shares of Amgen from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 7th. Raymond James assumed coverage on shares of Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating on the stock. Finally, SVB Leerink cut shares of Amgen from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $324.00 to $318.00 in a research report on Wednesday, February 7th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $295.30.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.